Ebix (EBIX) Tops Q2 EPS Expectations

August 8, 2016 7:29 AM EDT

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Ebix (NASDAQ: EBIX) reported Q2 EPS of $0.70, $0.49 better than the analyst estimate of $0.21. Revenue for the quarter came in at $72.6 million versus the consensus estimate of $71.2 million.

Q2 2016 net income rose 21% to $23.0 million, compared to Q2 2015 net income of $19.0 million. The improvement principally reflected the benefit of higher revenues and operating income as compared to the same period last year, in addition to a one-time income tax benefit in Q2 2016 offset to a large degree by one-time income expenses in the quarter that included amongst other things -- non-recurring interest costs associated with a tax payment, one-time bank and legal costs against setting up the new expanded Bank credit facility, growing our bad debt reserves in Q2 2016, and other non-recurring costs associated with a one-time test initiative in Europe.

For earnings history and earnings-related data on Ebix (EBIX) click here.

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